Acorah Software Products - Accounts Production 19.4.351 false true 31 December 2024 1 January 2024 false 22 September 2026 true No description of principal activity 1 January 2025 31 December 2025 31 December 2025 12304133 Mr Wui Kit Lam Ms Siu Lan Lau iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12304133 2024-12-31 12304133 2025-12-31 12304133 2025-01-01 2025-12-31 12304133 frs-core:CurrentFinancialInstruments 2025-12-31 12304133 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 12304133 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 12304133 frs-bus:Micro-entities 2025-01-01 2025-12-31 12304133 frs-bus:Audited 2025-01-01 2025-12-31 12304133 frs-bus:Director1 2025-01-01 2025-12-31 12304133 frs-bus:Director2 2025-01-01 2025-12-31 12304133 2023-12-31 12304133 2024-12-31 12304133 2024-01-01 2024-12-31 12304133 frs-core:CurrentFinancialInstruments 2024-12-31
Registered number: 12304133
Truly Semiconductors (UK) Ltd
Financial Statements
For The Year Ended 31 December 2025
Independent Auditor's Report
to the Members of
Truly Semiconductors (UK) Ltd
Independent Auditor's Report
Opinion
We have audited the financial statements of Truly Semiconductors (UK) Ltd for the year ended 31 December 2025 which comprise the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 105 "The Financial Reporting Standard applicable to the Micro-entities Regime".
In our opinion the financial statements:
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, specifically FRS 105; and
  • have been prepared in accordance with the requirements of the Companies Act 2006 as applied to micro-entities.
Therefore, under section 495(3A) of the Companies Act 2006, in our opinion the financial statements give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit/(loss) for the year then ended.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 3 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other Matters - Application of True and Fair View
The financial statements have been prepared under the micro-entities regime which does not require the directors or the auditor to consider the inclusion of any disclosures necessary to give a true and fair view where these go beyond the minimum disclosures required by the Companies Act 2006 as applied to micro-entities.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Matters on Which We Are Required to Report by Exception
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit, or
  • the directors were not entitled to prepare the financial statements in accordance with the micro-entities regime and take advantage of the micro-entities' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
Responsibilities of Directors
The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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Independent Auditor's Report (continued)
to the Members of
Truly Semiconductors (UK) Ltd
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud. 
The objectives of our audit in respect of fraud are to identify and assess the risks of material misstatement of the financial statements due to fraud, to obtain sufficient audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,and to respond accordingly to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. 
Our approach was as follows: We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are the Companies Act 2006, the reporting framework of the Financial Reporting Standard 105, The Financial Reporting Standard applicable in the UK and Republic of Ireland and UK taxation legislation. 
We understood how the company is complying with those frameworks by discussions with management. Where the risk was considered to be higher we performed audit procedures to address each identified fraud risk. These procedures included testing journals, reviewing large and/or unusual transactions, and analytical procedures on key estimates and confirming group balances. In addition, we completed procedures to conclude on the compliance of the disclosures in the financial statements with all applicable requirements. 
There are inherent limitations in the audit procedures described above and the further the audit date is from the date of when the transactions reflected in the financial statements occurred, the less likely we are to become aware of irregularities and noncompliance. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting a material misstatement due to error because fraud, by nature, involves deliberate concealment by many means (for example collusion or intentional misrepresentations). 
Our audit procedures in relation to fraud included but were not limited to: 
  • Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; 
  • Gaining an understanding of the internal controls established to mitigate risks related to fraud; 
  • Discussing amongst the engagement team the risks of fraud; and 
  • Addressing the risks of fraud through management override of controls by performing journal entry testing. 
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 
The risks of material misstatement that had the greatest effect on our audit are the valuation of the property and the going concern.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to micro-entities. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
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Independent Auditor's Report (continued)
to the Members of
Truly Semiconductors (UK) Ltd
Muhammad Kashif (Senior Statutory Auditor)
for and on behalf of ARK ACCOUNTANTS AND AUDITORS LTD , Statutory Auditor
22/09/2026
ARK ACCOUNTANTS AND AUDITORS LTD
13 Chorley Old Road
Bolton
BL1 3AD
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Truly Semiconductors (UK) Ltd
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 12304133
2025 2024
£ £
Fixed assets 1,407 1,060
Current assets 42,380 39,632
Creditors: Amounts Falling Due Within One Year (7,580 ) (2,983 )
NET CURRENT ASSETS 34,800 36,649
TOTAL ASSETS LESS CURRENT LIABILITIES 36,207 37,709
Accruals and deferred income (8,240 ) (8,033 )
NET ASSETS 27,967 29,676
CAPITAL AND RESERVES 27,967 29,676

Notes

1. General Information
Truly Semiconductors (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12304133 . The registered office is 17 Buckler Ride, Crowthorne, RG45 6HQ.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
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3. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
These accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Wui Kit Lam
Director
22/09/2026
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